AML Solutions for FINCEN & BSA Compliance
Our Enhanced Compliance Solution (ECS) provides for the proper due diligence of your customers throughout their entire lifecycle. Its suite of modules covers every aspect of BSA compliance from onboarding, periodic reviews, ongoing risk assessment, transaction monitoring, case management, and regulatory reporting.
ECS’ Know Your Customer (KYC) and Enhanced Due Diligence knowledgebase is designed to look at the entire customer relationship when assessing risk and transaction activity. Transaction Monitoring detects behavioral patterns on transaction activity among persons and groups of customers. signatories, beneficiaries, and even non-customers that form part of customer relationships.
With its Artificial Intelligence and inherent workflow technology, ECS has been successfully implemented in institutions ranging in size from de-novo banks to 20 Billion in assets, with BSA organizations ranging from two persons to hundreds of users. ECS can be deployed either centrally in the BSA Department, or across the branch network, to enable account and relationship managers to participate as contributors of information.
Watch List / OFAC / EDD Screening Software
The OFAC / EDD Server delivers continuous screening of your customers and real time transaction monitoring to reduce exposure while at the same time minimize false positives. Multiple sanctioned entity lists are supported such as the USA Treasury Office of Assets Control (OFAC), European Union (EU), United Nations (UN), the Bank of England (BOE), and other authoritative sources. Changes in your customer information files or to published lists, or to your own private lists, are automatically included, scanned, and maintained.
Enhanced Due Diligence (EDD) on your customers may also include the scanning for Politically Exposed Persons (PEP) and negative media through the online interfaces to Worldcheck, LexisNexis, and other published databases. The search history functionality is specifically designed to comply with FinCEN 314a requests and subpoenas by scanning client databases and transaction history.
FRB Certified wire transfer product, FedLink.
Providing Automation and Compliance - Discover our premier FRB Certified wire transfer automation product suite. FedLink streamlines your wire transfer operation, while ensuring compliance with all related regulations and international payment guidelines. Rich in feature functionality, with hundreds of satisfied bank customers, FedLink has always met all regulatory requirements since its inception in 1995.
The Straight Through Processing (STP) functionality allows customers and correspondent banks to submit payments and obtain confirmations within reduced service windows via direct connection to the Federal Reserve, SWIFT, and FX processors.